Renaissance Investment Group LLC Sells 1,072 Shares of Air Products and Chemicals, Inc. (NYSE:APD)

Renaissance Investment Group LLC cut its holdings in Air Products and Chemicals, Inc. (NYSE:APD - Free Report) by 21.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,861 shares of the basic materials company's stock after selling 1,072 shares during the quarter. Renaissance Investment Group LLC's holdings in Air Products and Chemicals were worth $1,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pathway Financial Advisers LLC increased its position in Air Products and Chemicals by 29,954.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 2,894,211 shares of the basic materials company's stock valued at $861,722,000 after buying an additional 2,884,581 shares in the last quarter. ING Groep NV grew its stake in Air Products and Chemicals by 240.7% in the third quarter. ING Groep NV now owns 1,023,433 shares of the basic materials company's stock valued at $304,717,000 after acquiring an additional 723,019 shares during the period. Mizuho Markets Americas LLC grew its stake in Air Products and Chemicals by 318.7% in the third quarter. Mizuho Markets Americas LLC now owns 948,723 shares of the basic materials company's stock valued at $282,473,000 after acquiring an additional 722,132 shares during the period. Van ECK Associates Corp raised its position in shares of Air Products and Chemicals by 1,685.4% during the third quarter. Van ECK Associates Corp now owns 764,489 shares of the basic materials company's stock worth $249,698,000 after purchasing an additional 721,671 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Air Products and Chemicals by 29,957.6% during the third quarter. International Assets Investment Management LLC now owns 718,075 shares of the basic materials company's stock worth $2,138,000,000 after purchasing an additional 715,686 shares during the period. 81.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on APD shares. JPMorgan Chase & Co. decreased their price target on shares of Air Products and Chemicals from $350.00 to $345.00 and set an "overweight" rating for the company in a research note on Friday, November 8th. Wells Fargo & Company upgraded shares of Air Products and Chemicals from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $330.00 to $350.00 in a report on Tuesday, January 14th. StockNews.com raised shares of Air Products and Chemicals from a "sell" rating to a "hold" rating in a research report on Monday, September 23rd. Citigroup increased their price objective on Air Products and Chemicals from $345.00 to $365.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Finally, Mizuho lifted their target price on Air Products and Chemicals from $308.00 to $360.00 and gave the company an "outperform" rating in a research report on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $332.71.

Air Products and Chemicals Stock Performance

APD stock traded up $5.05 during mid-day trading on Monday, hitting $317.11. The company had a trading volume of 2,315,359 shares, compared to its average volume of 855,050. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.34 and a current ratio of 1.52. The firm has a market cap of $70.52 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 2.88 and a beta of 0.84. Air Products and Chemicals, Inc. has a 12 month low of $212.24 and a 12 month high of $337.00. The stock's fifty day moving average price is $309.42 and its two-hundred day moving average price is $294.69.

Air Products and Chemicals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Thursday, January 2nd will be issued a $1.77 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.23%. Air Products and Chemicals's dividend payout ratio (DPR) is presently 41.21%.

About Air Products and Chemicals

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.